Ethereum has experienced in the last few years a tremendous growth, with a significant number of distributed applications has been integrated into its Blockchain, while at the same time a multi-billion dollar DeFi-Ecosystem is grown.
Now, a recently published report of a Blockchain-based research platform revealed that Ethereum is the big winner of the recent Stablecoin-boom – because the growth of these on the platform-based Token has made it possible to achieve transfer of value parity with Bitcoin.
This seems to suggest that the current ETH price is undervalued given the strength and of the basic benefits of the technology, under.
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Ethereum is experiencing massive issue of new Stablecoins
In a recently published report of the Blockchain Analytics company Messari, describes the remarkable developments within the crypto industry in the first quarter of 2020, the company: The first months of the year have led to a massive growth in stable coins.
The total market capitalization for these digital assets amounts to a whopping 8 billion dollars, and investors rely on these assets to protect themselves against the volatility of traditional crypto-currencies like Bitcoin, secure.
Source: Messari
Some industry leaders believe that the massive value of the stable coins that are currently traded on the crypto-exchanges only at the edge, could be the “dry powder” that drives the next major upward trend.
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Messari also points out that Ethereum is the big winner of this Stablecoin-seems to be a boom, because the Blockchain has been due to the increasing popularity of the non-volatile Coins, a considerable revision of tokens and an increased transfer of Value in the Chain.
“A winner in the growth of the stable coins seems to be Ethereum, which has recently reached the level of parity with Bitcoin. Stable coins now account for 80% of the daily transfer value in the case of Ethereum, since the Asset as the output platform of choice for new Stablecoins has been proved.“
ETH Zurich Foundation will be further strengthened
Source: Messari
The increase in the Stablecoin-output on the Ethereum block Chain is a factor, which indicates a growing fundamental strength and usefulness and which could lead investors to the conclusion that ETH is currently undervalued.
Ryan Adams, the founder of the myth of Capital and a popular Ethereum advocates, said in a recent Tweet about the fundamental growth of the platform and explained that he keeps them because of their current use is still strongly undervalued.
“In February 2016, listed on Ethereum at $ 2. If I had said at the time that this network would house 4 years later, over $ 9 billion in stable coins & the only one of its promising use cases, it would have blown. They had secured the Truck. So today, I think about ETH.“
As the Benefit and the use of Ethereum continue to increase, it is likely that crypto and Non-crypto investors alike sit up and take notice.
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